Milar Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 13.0 pounds 0.8 hours 0.8 hours Standard Price or Rate $12.50 per pound $38.00 per hour $18.00 per hour In January the company produced 3,490 units using 13,960 pounds of the direct material and 2,912 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $14.720. The actual direct labor cost was $110,238 and the actual variable overhead cost was $50,284 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor rate variance for January is Multiple Choice $418 F O $418 U $4.142 0 $4.142 F